Having experienced traditional Japanese employment system, older Japanese adults are affected by workplace and socioeconomic changes. Two recent surveys of workers nearing retirement showed high work salience and considerable anxiety about retirement. (SK)

The author describes Japan's phased retirement system, consisting of the "step down" from a management or supervisory position (commonly in the mid-50s) and the mandatory transfer to a subsidiary company later. The system allows companies to promote younger workers. However, in a depressed industry, the system generally results in…